As if last night wasn't bad enough, I got my new property

aerozeptallica · 2020-11-08T16:39:45.506Z

tax bill today. How can a place only go up 40% in value but the new tax it more than double what is used to be?

Mine doubled one year early on and they said that they werent sure if it was still my primary residence so they moved it up to the 6% mil rate. I layed into the for a couple of minutes and they apologized and changed it back.

However, my escrow already paid it and that put my escrow in the whole plus the assumed payment for next year made the escrow payment go way up. That lead to 6 months if me arguing with chase until i told them i was going to stop paying what they were asking and only pay what i was paying per month the prior year. That lasted for two months before they finally fixed it.

Then i told them i no longer wanted an escrow because of this... they said they would refinance for 6k. I lulzed at them and told them drop it or i was gone. They said no... a couple of months later i refinanced with no closing costs and a lower rate with First Citizens.

Tldr... verify they still have it as primary residence.

Neal in NC®

Oculus Spirit [43205]

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a few years ago first citizens was my bank

Nov 8, 2020, 9:01 PM

I had several business accounts, considerable assets and two business loans that were pretty large. One was a mortgage on some property that was in good shape less than 50% D/V and the other loan was an operating loan that was about 1/10th the size. The large loan had a balloon payment coming due so we renegotiated the new rate on the loan. It came time to sign the loan papers and the secured large loan had a 1% higher interest than the unsecured 1/10th the size smaller loan.

I'm like, what is this BS? We agreed to this percentage. "Oh that was for this loan but not the large loan and you have until Friday to sign the papers or the balloon payment will be due immediately."

No 60 or 90 day extension to obtain new financing. I had never missed a payment in over 10 years. They started foreclosure proceedings the next week. Now remember I had assets in the bank that were probably 20-30% of the loan amount, all my tenants were paying rent nothing was empty, they were just following through with a threat.

I had to get find a new bank get a full blown appraisal go through all the new rigamoral to get a new loan. Nothing legal ever happened but I was still hit with 5 grand of legal fees to start the foreclosure because it took me a couple months to get the new loan that along with a 3500 appraisal.

A couple years after that I switched to BB&T and they bent over backwards to help me and get my business. They gave me excellent interest rates removed all of the collateral requirements that first citizens had and the other short term bank had too. They didn't constantly ask for personal and business statements to be updated like first citizens used to do.

First Citizens was very dishonest and shady. I didn't realize how bad they were until I moved on.